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Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
 COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a new era in the iron ore sector and major analysts are already cutting down substantially their forecasts for the price of the commodity during 2015. The commodity traded at $75.38 on November the 6th, marking the lowest level since September 2009 and top researchers are talking about 2015 prices averaging around 80$ per ton.
According to Rio de Janeiro-based Vale SA, the largest producer, “The oversupply won’t last forever as some smaller producers that started output when prices were much higher won’t be able to survive the slump”. Even now that the commodity’s price is at record low levels, the majors are still looking at the big picture and they both continue to ramp up production in both Brazil and Australia.
From a maritime perspective, the oversupply of global iron ore is one of the main factors that could drive the demand for seaborne trade. The iron ore market fundamentals are changing to the extent where we all hope that the global surplus of the commodity will continue to fuel the rates for Capesize vessels over a prolonged period. The question is, how long it will take until the smaller producers will have to cease operations due to the lower industry price floor.
During last week, the iron majors in both Brazil and Australia were considered as relatively quiet and, as a result, freight rates declined week on week on the Tubarao to Qingdao route to $9.35 per tonne and on the Western Australia to China route to $24 per tonne.
Nevertheless the freight market for capesize bulk carriers is still at sustainable levels and the top iron ore producers are intending to bring even more new supply to the market over the next three years.
The increase in global supply is also affecting the Chinese domestic output and if the majors want to force a high percentage of these producers to shut down, they will have to ensure that prices will remain low for an extended period or at least for the next couple of months.
Even though Chinese iron ore imports decreased more than 6 percent compared to September, the overall sentiment is that they still remain on track for their biggest growth in the last five years, which is somewhat encouraging for now.
This means that at least in the short term the surplus of iron ore in the market will most likely be absorbed mainly by China, while expectations for 2015 are that the global surplus will be approximately 110 million tons. Comparing that to the 2014 surplus of around 60 million tons, yields a clear picture of the oversupply that is flooding the industry and places even more weight on the significance of the Chinese economy.
By Christopher T. Whitty
Marketing Manager - Towage & Port Agency
Cotzias Intermodal Shipping Inc.
Compiled by:
Intermodal Research & Valuations
Analysts:
Mr. George Lazaridis
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
Wednesday, 26 November 14
SHIPPING MARKET INSIGHT - EVA TZIMA
The tanker market has been enjoying some good returns lately. Ok, that may be a big understatement, but with all the ups and downs of the past year ...
Tuesday, 25 November 14
FISCAL BREAKEVEN OIL PRICES SHOW SOVEREIGN VULNERABILITY - FITCH
COALspot.com: The vulnerability of the sovereign credit profiles of net oil exporters, as shown by their fiscal breakeven oil prices, suggests that ...
Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or ...
Tuesday, 25 November 14
FOB RICHARDS BAY COAL SWAP FOR Q4' 15 DELIVERY CLOSED AT US$ 68.20
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 gained month on month, week on week and day over day.
The Q1 swap has gain ...
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- Kideco Jaya Agung - Indonesia
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- Indogreen Group - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
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- Eastern Coal Council - USA
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- Parliament of New Zealand
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- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
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- Cement Manufacturers Association - India
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- Indonesian Coal Mining Association
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- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
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- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
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- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
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- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
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- Wilmar Investment Holdings
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- MS Steel International - UAE
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- Formosa Plastics Group - Taiwan
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- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
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